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Extended maintenance agreement
We are financing the purchase of a large piece of equipment and a 4 year extended maintenance agreement is included in the financing. We use cash basis accounting. I am putting the cost of the equipment in Fixed Assets and the note in Long Term Liabilities. Do I expense the whole 4 years EMA this year? Or set up a prepaid and expense it over 4 years? Or how do I handle this?
Thanks so much for your help. |
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